Adamas gets $40M in VC funds for flu, neurology work
Emeryville, CA-based Adamas Pharmaceuticals has scooped up $40 million in Series D cash to fund a trio of development programs--including work on a combo antiviral therapy for the flu--which has swiftly become one of the hottest fields in biomedical research. The round was led by Aeris CAPITAL and DAG Ventures with earlier investors MDV-Mohr Davidow Ventures and Northgate Capital participating. Adamas also announced a research pact with the United States Naval Health Research Center for preclinical studies evaluating Adamas' antiviral drug for influenza A.
The company has three product candidates in development: ADS-8902, a triple combination antiviral drug therapy for flu, including swine flu; ADS-5101, a once-daily extended release formulation of amantadine hydrochloride for Parkinson's and other disorders; and ADS-8703, a fixed-dose combination for dementia.
"Adamas is at an important inflection point with our rapidly advancing TCAD-therapy program for flu and two late-stage clinical development programs for neurology indications," said CEO Gregory Went. "Proceeds from the Series D financing will fund clinical studies of TCAD therapy in the Northern and Southern hemispheres in patients infected with influenza who are at risk of serious outcomes, as well as advance us towards significant regulatory milestones in our neurology programs."